Suvretta Capital Management LLC grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 8.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,900 shares of the medical research company's stock after purchasing an additional 640 shares during the period. Suvretta Capital Management LLC's holdings in Thermo Fisher Scientific were worth $4,110,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cypress Advisory Group LLC acquired a new stake in Thermo Fisher Scientific during the 4th quarter valued at approximately $253,000. Border to Coast Pensions Partnership Ltd lifted its position in Thermo Fisher Scientific by 12.3% during the fourth quarter. Border to Coast Pensions Partnership Ltd now owns 93,913 shares of the medical research company's stock valued at $48,824,000 after purchasing an additional 10,305 shares during the period. Intact Investment Management Inc. boosted its holdings in Thermo Fisher Scientific by 34.0% in the fourth quarter. Intact Investment Management Inc. now owns 2,600 shares of the medical research company's stock valued at $1,353,000 after purchasing an additional 660 shares during the last quarter. Purkiss Capital Advisors LLC purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at about $1,121,000. Finally, Avanza Fonder AB acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at about $15,562,000. Institutional investors and hedge funds own 89.23% of the company's stock.
Thermo Fisher Scientific Price Performance
Shares of NYSE:TMO traded down $0.45 during midday trading on Tuesday, hitting $413.47. The company's stock had a trading volume of 2,141,884 shares, compared to its average volume of 1,845,527. Thermo Fisher Scientific Inc. has a 12-month low of $390.50 and a 12-month high of $627.88. The company has a market cap of $156.08 billion, a P/E ratio of 25.01, a price-to-earnings-growth ratio of 2.99 and a beta of 0.82. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The business's 50 day simple moving average is $451.89 and its 200 day simple moving average is $508.88.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. The business had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.23 billion. During the same period in the previous year, the firm posted $5.11 EPS. The business's revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.
Thermo Fisher Scientific Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were given a dividend of $0.43 per share. This is a boost from Thermo Fisher Scientific's previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 14th. This represents a $1.72 annualized dividend and a dividend yield of 0.42%. Thermo Fisher Scientific's payout ratio is presently 10.09%.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on TMO shares. The Goldman Sachs Group set a $610.00 price target on Thermo Fisher Scientific and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Evercore ISI cut their target price on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. StockNews.com downgraded shares of Thermo Fisher Scientific from a "buy" rating to a "hold" rating in a report on Friday, April 25th. Argus decreased their price objective on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Finally, Royal Bank of Canada dropped their target price on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and an average target price of $607.43.
Check Out Our Latest Research Report on TMO
Insider Buying and Selling
In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total value of $5,166,700.00. Following the completion of the sale, the chief executive officer now owns 115,174 shares of the company's stock, valued at $59,506,950.58. This represents a 7.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Michael A. Boxer sold 3,775 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $532.52, for a total value of $2,010,263.00. Following the completion of the transaction, the senior vice president now owns 10,816 shares in the company, valued at $5,759,736.32. This represents a 25.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,075 shares of company stock worth $7,305,942. Insiders own 0.33% of the company's stock.
About Thermo Fisher Scientific
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Free Report)
Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.
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